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Extrapolation in China’s Stock Market : Returns, Price Crash Risk and Price Informativeness
Yang, Siyuan; Li, Siyang - 2021
Exploiting novel data from Guba forum in China, we analyze the return extrapolation in the cross …
Persistent link: https://www.econbiz.de/10013311575
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Stock prices in a speculative market : the Chinese split-share reform
Beltratti, Andrea; Bortolotti, Bernardo; Caccavaio, Marianna - 2009
In 2005-2006 China reformed its stock market by eliminating non-tradable shares. The regulator set general guidelines …
Persistent link: https://www.econbiz.de/10008809692
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Stock Prices in a Speculative Market : The Chinese Split-Share Reform
Beltratti, Andrea - 2009
In 2005-2006 China reformed its stock market by eliminating non-tradable shares. The regulator set general guidelines …
Persistent link: https://www.econbiz.de/10013160200
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China as an international lender of last resort
Horn, Sebastian; Parks, Bradley; Reinhart, Carmen M.; … - 2023 - First draft: March 2023
This paper shows that China has launched a new global system for cross-border rescue lending to countries in debt … distress. We build the first comprehensive dataset on China’s overseas bailouts between 2000 and 2021 and provide new insights … into China’s growing role in the global financial system. A key finding is that the global swap line network put in place …
Persistent link: https://www.econbiz.de/10014247738
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Stock Market Efficiency in China : Evidence from the Split-Share Reform
Beltratti, Andrea - 2014
We perform an event study to investigate the efficiency of the Chinese stock market. We study the reaction of stock returns and trading volumes to the 2005-2006 structural reform which allowed the transformation of non-tradable shares (NTS) into tradable shares (TS) through payment of a...
Persistent link: https://www.econbiz.de/10013043970
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State Ownership, Implicit Government Bailout Guarantee, and Crash Risk : Evidence From China
Ding, Mingfa - 2019
Using a large sample of the Chinese public firms, this study documents that the government intervention via state ownership can mitigate the stock crash risk. The mitigation effect of state ownership is more pronounced in the crisis periods and in the sample of firms with shares held by central...
Persistent link: https://www.econbiz.de/10012894310
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Stock liquidity and corporate trade credit strategies : evidence from China
Shahzad, Umeair; Liu, Jing; Luo, Fukai - In: Journal of business economics and management 23 (2022) 1, pp. 40-59
This study investigates the nexus of stock liquidity and trade-credit policies in China from 2002 to 2017. The …
Persistent link: https://www.econbiz.de/10013258463
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The Role of Cross-Border Mergers and Acquisitions in Foreign Direct Investment : Evidence from the Chinese Stock Market
Ahn, Okhwa - 2017
In this treatise, we provide empirical evidence based on stock and operating performance measures to show how cross-border mergers and acquisitions (M&As) are different from domestic transactions from the perspective of foreign acquirers. We analyze the shareholder wealth effect from 663...
Persistent link: https://www.econbiz.de/10012942725
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The stock market reaction to the 2005 non-tradable share reform in China
Beltratti, Andrea; Bortolotti, Bernardo; Caccavaio, Marianna - 2011
During 2005-2006, the Chinese government implemented a reform aimed at eliminating the so-called non-tradable shares (NTS), shares typically held by the State or by politically connected institutional investors that were issued at the early stage of financial market development. Our analysis,...
Persistent link: https://www.econbiz.de/10009008185
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The Impact on Performance of IPO Allocation Reform : An Event Study of Shanghai Stock Exchange A-Shares
Jiang, Fei - 2010
-run performance following a regulatory reform (No. 54 [2002] China Securities Regulatory Commission (CSRC)) of the method of … allocating IPO shares in China. On 20 May 2002, the CSRC announced that IPO subscription and allotment would be based on the …
Persistent link: https://www.econbiz.de/10013138249